Hacker News new | ask | show | jobs
by dotnet00 1559 days ago
Unfortunately as usual, most people only saw the clickbait about the email and not the subsequent clarification about how he meant that while it was unlikely, it wasn't impossible in the event of a severe enough global economic downturn, pointing to examples of much bigger companies which went bankrupt during downturns: https://www.cnbc.com/2021/11/30/elon-musk-warning-not-first-...

Given his net worth right now, he could very likely carry SpaceX through some economic trouble, but in the event of a big enough downturn, his net worth will probably drop hard due to it being mostly Tesla stock, thus his concern.

2 comments

That he used his concern to guilt people to work over a holiday isn't a net positive. Good, effective leaders do not act that way.
Irony here being that Musk is clearly a good, effective leader by any metric.
Getting results, short term, isn't being an effective leader. Effective leaders do what they say and don't take insane risks that have no way of paying off.

Getting things done != leadership.

He's been leading SpaceX from success to success for 20 years now, or a quarter of the average American lifespan, a bit absurd to suggest that's "short term".
Musk's net worth is tied to his companies. I m not sure how much he can liquidate in a severe downturn without losing control of any company.

Lots of people will be paying attention.

Long as he can keep up with the interest payments on loans backed by those shares he’ll be fine